Re: Can Midland report like this?

I didn't think a CA can report a payment history since I don't have a payment contract with them.

Also this account says OC is WEBBANK on my EX CR. Who the _ell is WEBBANK?!? I don't have a WEBBANK listed as an OC. I'm so confused on this account....

I think Midland can represent this way. I know it is a very hot debated topic, so I am not too sure, but I think they are able to report the last status of the OC, and report as a factoring company. How is it showing on a non-consumer report? Like report straight from the CRAs, is it showing in accounts or collections.

Webbank is Bill Me Later, and they never report as an OC - they only show up after you default and it goes to collections.

Re: Can Midland report like this?

Debt collectors can, and do, report the derog status of the OC account for which they are now collecting on the debt. That is not reportiing of a delinquency based on their billing of the consumer.

Debt collectors cannot report monthly delinquencies that occured based on their collection. Absent an account agreemeent with the consumer, they cannot send a bill with a due date, and report failure to have paid after expiration of the billing due date.

Re: Can Midland report like this?

I guess what I'm confused about are the OK reports for several months, than a 120 day late in May. I was under the assumption they cannot report as if I was making payments, then BAM!, 120 days late, since I don't have a payment agreement with them. I understand they can report the same as the OC.

As for this being Bill Me Later, I don't recall ever having an account with them. Time to DV Midland.

Re: Can Midland report like this?

I guess what I'm confused about are the OK reports for several months, than a 120 day late in May. I was under the assumption they cannot report as if I was making payments, then BAM!, 120 days late, since I don't have a payment agreement with them. I understand they can report the same as the OC.

As for this being Bill Me Later, I don't recall ever having an account with them. Time to DV Midland.

Yeah.. if they are collection on behlf of an OC, instead of purchasing the debt, they can report that way... if the OC was reporting all OKs to them, and then the 120 day late they can regurgitate that informaton, from my understanding..

yeah get that DV on the way. I am unsure whatelse webbank does.. maybe paypal? but I know they do BML, as I have a BML account

Maybe Robert will come back and put in his two cents.. I hate midland and this factoring company stuff. If they bought the debt, this should be a collection account. Although it looks like there is no payment history on this one, and it does show "collection account'

I don't know to be honest. I know plenty about credit reports and repairing, but this trend of reporting as factoring companies and what not confused me.

Maybe Robert will come back and put in his two cents.. I hate midland and this factoring company stuff. If they bought the debt, this should be a collection account. Although it looks like there is no payment history on this one, and it does show "collection account'

I don't know to be honest. I know plenty about credit reports and repairing, but this trend of reporting as factoring companies and what not confused me.

-scott

Them listing themselves as a factoring company account is not a violation of the FCRA. They are still seen as a collection agency.

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